14 May 2012

Renters opting to buy is driving Auckland market - broker

3:14 pm on 14 May 2012

A mortgage broker says increased activity in the Auckland property market is due to younger couples opting to buy a house, rather than pay high rents.

The Reserve Bank has said if there was a boom it could require changes to the minimum deposit people need to buy a house.

But mortgage broker Christine Lockie says even though more banks are lending up to 95% of the value of a property, they are more careful about who they lend to.

Ms Lockie says the first four months of this year was the busiest she has experienced in the past four years.